Why there is no such thing as luck, according to this entrepreneur and reality TV star

If you are waiting for the stars to align for your next big break, don't bank on it.

According to businesswoman and reality TV star Ann Kaplan Mulholland, there is no such thing as luck. Instead, there are opportunities.

"Luck is where preparedness finds and recognizes an opportunity," she told CNBC's My Biggest Lessons.

She believes those openings lie in everything we do, and it is important to always look out for and take advantage of them.

"If you're not open, if you're not aware, you will not recognize when an opportunity comes in front of you," said Kaplan Mulholland.

She added that there is also no such thing as bad luck. "That is when you're not accountable for something," she said.

Watch the full video for the rest of her lessons.